Shriram Properties Limited IPO – Review
Shriram Properties Limited – one of the leading residential real estate development companies in South India – is planning to raise INR 600 Cr via IPO (250 Cr Fresh Issue + 350 Cr OFS)
Shriram Properties Limited: Profile
Incorporated in the year 2000 in Bengaluru, Shriram Properties Ltd is a part of Shriram Group of companies which is a prominent business group world over with over four decades of operating history in India and a well-recognized business brand in the retail financial services as well as several other industries.
The Company is one of the prominent residential real estate developers in South India, i.e., Visakhapatnam, Coimbatore, and Chennai and is primarily focused on the mid-market and affordable housing segments. The company also has operations in Kolkata.
Business Development
The company is among the 5 largest residential real estate companies in South India in terms of number of units launched between financial years 2015 and 2020 across Tier 1 cities of South India including Chennai and Bengaluru (Source: JLL)
As of 30 September 2021, the company has 29 numbers of completed projects out of which 24 projects completed in Chennai and Bengaluru itself accounted for 90.56 per cent of its saleable area.
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Company Strengths:
- Part of the reputed Business Group (Shriram Group)
- One of the top real estate developers in South India
- Asset-light business model
- Strong Financial Position
- Proven capabilities in project identification and execution
- Professional and experienced management team
Company Promoters:
M. Murali,
Shriram Properties Holdings Private Limited, and
Shriram Group Executives Welfare Trust
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
CONCLUSION
Considering company’s valuation and financial parameters, FinBlab recommends Avoid ratings (for the time being) on Shriram Properties Limited IPO
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